Bank shares cushion market, as blue chips slide
Bank shares cushion market, as blue chips slide
Shares opened low on Tuesday morning, but recovered towards the end of the morning session, following the recovery of bank stocks.
The benchmark VN Index on the HCM Stock Exchange closed almost unchanged at 768.87 points.
The market breadth remained negative, with 178 stocks declining, 87 advancing and 80 remaining flat.
Blue chips continued to slip as 23 of the top 30 shares by market value and liquidity lost value; only six gained.
Banks led the rise, with four of the six listed banks on the HCM Stock Exchange going up. While Vietcombank (VCB) and BIDV (BID) rose 0.5 per cent each, Vietinbank (CTG) inched up 0.3 per cent and Sacombank (STB) went up 2.6 per cent.
Eximbank (EIB) closed unchanged, but Military Bank (MBB) was down 0.2 per cent.
On the negative side, sector-leading companies such as PV Gas (GAS), FPT (FPT), VinGroup (VIC), Masan Group (MSN), Bao Viet Holdings (BVH), Hoa Phat Group (HPG) and Kido Group (KDC) continued downward.
On the Ha Noi Stock Exchange, the HNX Index dipped 0.2 per cent to touch 98.44 points.
Around 168 million shares worth a combined VND2.6 trillion (US$115.2 million) were traded in the two markets by the end of morning trade.
The afternoon session starts at 1pm.
